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LVIC

LVFS

These complaint figures include complaints relating to PPI and banking products sold by LVBS.

Definitions

We've used the definitions set by the Financial Conduct Authority (FCA). Some of them are a bit technical so here's what they mean and the products they relate to.

Decumulation and pensions

Decumulation is the conversion of pension assets built up during your working life into pension income to be spent during your retirement. These complaints relate to pensions, annuities, endowments and whole of life products sold by LVFS.

Banking

Includes complaints about personal loans and credit cards. We closed our banking division to new business in 2008 so we don't offer these products anymore.

Any complaints about these legacy products were dealt with by LVBS until the 31 March 2011 and LVFS afterwards.

Investments

Include complaints about savings plans, ISAs and unit trust investments sold by LVFS.

Insurance and pure protection

Each of our companies has complaints which are included in the 'general insurance and pure protection' category.

Liverpool Victoria Banking Services (LVBS) was dissolved on the 31 March 2011. Any complaints about payment protection insurance policies were dealt with by LVBS until 31 March 2011 and LVFS afterwards.

LVIC

The 5,485 complaints are from over 4.39 million policies, which works out at less than one complaint for every 800 policies held (complaints received in the six months to 30 June 2016 and policy numbers as at 30 June 2016).

LVFS

The 593 complaints are from just over 2.57 million policies which works out at 0.23 complaints per thousand policies or less than one complaint for every 4,342 policies held (complaints received in the six months to 30 June 2016 and policy numbers as at 30 June 2016 and excluding complaints relating to PPI and banking products sold by LVBS).